The laser diode market will rise at a compound annual growth rate (CAGR) of 12.6% from 2014 to 2020, according to the report ‘Laser Diode Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020’ from Transparency Market Research. The market was valued at $4.6bn in 2013 and is expected to be worth $10.26bn by 2020.
The automotive segment accounted for 25.35% of the market in terms of revenue in 2013. That year saw market domination by feedback laser diode technology, with 23.2% market share, and infrared laser diode technology held the wavelength segments by 26.2%.
Laser diodes based on aluminium gallium indium phosphide (AlGaInP) led the market in 2013 due to their increasing preference in optical discs, DVD players, laser pointers, and data communication devices. The report expects this segment to keep growing throughout the forecast period.
The report also divides the global laser diode market according to applications in consumer electronics, industries, automotives, medical, defense, healthcare, and others. Of these, the automotive segment dominated the market in 2013 because of the heavy use of laser diodes in engraving, lighting, molding and marking of automobile plastic in manufacturing plants, notes the report.
